New Mexico considers market-based program

On 29 January 2019, New Mexico Governor Michelle Lujan Grisham signed an Executive Order creating an interagency New Mexico Climate Change Task Force. The task force is to provide strategic direction for the state to reduce greenhouse gas emissions by 45% by 2030 compared to 2005 levels. It will evaluate several policies and strategies to achieve the 2030 target, including the possible adoption of a comprehensive market-based program that would limit CO2 emissions and other GHG pollutants across New Mexico.

The task force will also consider the adoption of low-emission vehicle emissions standards, zero emission vehicle performance standards, building codes, and policies to encourage the use of renewable energy. Work is also being done to increase the New Mexico Renewable Energy Portfolio Standard, as well as efficiency standards for electric utilities. The development of a regulatory framework to reduce methane emissions from the oil and gas sector is also being pursued by the Energy, Minerals, and Natural Resources Department and the Environment Department.

Initial recommendations from the task force that will form the basis of the ‘New Mexico Climate Strategy’ are expected to be delivered to the Governor by 15 September 2019.